Tag Archives: Lawrence Yun

According to the National Association of Realtors, all four major U.S. regions analyzed recorded month-over-month and year-over-year declines in existing home sales.

After experiencing a near 5% monthly drop in pending October sales, NAR reported the near-20-year high in mortgage rates and expensive home prices forced many prospective buyers to the sidelines.

Distressed sales, including foreclosures and short sales, comprised just 1% of home sales in October 2002 according to new NAR data, down from 2% in September.

"The housing sector continues to undergo an adjustment due to the continuous rise in interest rates" said Lawrence Yun, Chief Economist of NAR. "Expensive regions of the country are especially feeling the pinch and seeing larger declines in sales."

The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in August, the third month in a row and the ninth time it has fallen this year. In addition, three out of the four major regions in the ...

The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in July, the second month in a row and the eighth time it has fallen this year. In addition, three out of the four major regions in ...

Despite market influences that are pushing up mortgage rates and slumping home sales numbers during the second quarter of 2022, most metropolitan areas still saw double-digit annual price gains compared to the previous quarter.  This new information comes by way ...

For the fifth consecutive month, existing-home sales dropped as three of the four major geographic regions of the country experienced month-over-month declines. On a yearly basis, sales sank in all four regions.  All-in-all, total existing home sales for June 2022—which ...

With the average length of time Americans remain in their home now exceeding 10.5 years, rising mortgage rates will continue to discourage existing homeowners from selling their homes and further curb migration, according to a report.

NAR reports that foreclosures and short sales represented less than 1% of total home sales in April 2022, but down slightly from April 2021’s totals.